3 Penny Stocks To Buy According To Analysts, Targets Up To 1,029%
Numerous factors in the current stock market must be considered as you search for penny stocks to invest in. Emotions are running high between the broad economic concerns of recession and inflation or the potential for a stock market crash in 2023. This heightened sentiment has led to increased volatility, crafting a unique environment for retail traders and investors.Click Here To Watch TTG Live On YouTube
One of the most dynamic segments in the market, attracting considerable interest, is low-priced stocks. Their popularity stems from the distinctive way these stocks typically move. Even when the stock market is in decline, many penny stocks experience gains.
Furthermore, the fluctuations in some of these stocks can occur rapidly. For example, Centogene (NASDAQ: CNTG) witnessed a sudden surge in momentum during Tuesday’s morning session, with shares of CNTG stock jumping over 200% within the first hour.
It is crucial to determine the driving forces, if any, behind the movement of these inexpensive stocks. In some instances, it could be a speculative activity for various reasons. Specific news releases prompt the change in other cases, such as with CNTG stock.
Earlier this month, Centogene announced that it would participate in the American Academy of Neurology (AAN) Annual Meeting. In this case, the dates of the presentation were this week. No further news has come out related to other updates. However, the correlation seems relevant in light of this triple-digit move.
Penny Stocks & Analyst Ratings: What To Know
In this article, we focus on another essential piece of information worth considering: analyst opinions.
It’s vital to remember that analysts shouldn’t be the sole source of your research process. If anything, their views should be taken with a grain of salt and be just one component of your overall due diligence. Nonetheless, they can provide added insight into what Wall Street is observing compared to the focus of retail traders. We will explore several penny stocks to buy, according to analysts, with some of their ratings reflecting triple and quadruple digits based on current prices.